Local gold reaches new heights, market volatility forces suspension
The domestic gold trading market is going through a volatile period amid banking sector mistrust. Economic uncertainty, the rising value of the dollar against the kyat and fears over the banking sector have pushed gold to reach a record high of MMK 1
KB Bank to launch in Myanmar
Korean finance bank KB Bank will launch its Myanmar subsidiary (KB Bank Myanmar) next month. KB Bank Myanmar will be KB Financial Services’ third Myanmar business. The other two are KB Kookmin Card and KB Microfinance, which have operated sinceSeven Asian banks granted preliminary licenses in Myanmar
Among the 7 new banks granted preliminary licenses (out of 13 applications) are 3 banks from Korea (state-run Korea Development Bank (KDB), Industrial Bank of Korea (IBK), Kookmin Bank), 2 from Taiwan (Cathay United Bank and Mega International Commer
Singaporean and Norwegian firms latest to invest in Myanmar banking
Singaporean sovereign wealth firm GIC Pte and Norwegian firm Norfund AS will invest in Yoma Bank, becoming the latest to take advantage of new finance rules that allow foreign firms to buy stakes in Myanmar financial institutions. GIC will buy 20 per
Thailand expands Myanmar finance ties in major bank investment
A major Thai bank may soon be a 35 percent stakeholder in Myanmar’s Ayeyarwaddy Farmers Development Bank in the deepening financial relationship between the two countries. The Kasikorn Bank, or KBank, Thailand’s fourth largest financial i
